Outlook on January 6:
Analytical overview of major pairs on the H1 TF:
The key levels for the euro/dollar pair are 1.2445, 1.2409, 1.2384, 1.2347, 1.2310, 1.2286 and 1.2252. The next upward targets are determined from the local ascending trend on December 31. We expect the upward movement to continue after the breakdown of 1.2347, with the target of 1.2384. On the other hand, there is a short-term growth and consolidation in the range of 1.2384 - 1.2409. The potential upward target is the level of 1.2445. Upon reaching which, a consolidation as well as a downward pullback is possible.
Short-term decline, in turn, is possible in the range of 1.2310 - 1.2286. If the last value breaks down, a deep correction will occur. Here, the target is 1.2252, which is the key support level for growth.
The main trend is the local upward trend from December 31
Trading recommendations:
Buy: 1.2348 Take profit: 1.2384
Buy: 1.2385 Take profit: 1.2407
Sell: 1.2310 Take profit: 1.2287
Sell: 1.2284 Take profit: 1.2253
The key levels for the pound/dollar pair are 1.3921, 1.3809, 1.3731, 1.3612, 1.3561 and 1.3471. Following the upward trend from December 21, we are currently expecting a movement to the level of 1.3731. In this case, short-term growth and consolidation are in the range of 1.3731 - 1.3809. The potential target for growth is the level of 1.3921. Upon reaching which, a downward pullback can be expected.
Meanwhile, short-term decline is expected in the range of 1.3612 - 1.3561. If the last value breaks down, a deep correction will occur. Here, the potential target is 1.3471.
The main trend is the upward trend of December 21
Trading recommendations:
Buy: 1.3733 Take profit: 1.3807
Buy: 1.3811 Take profit: 1.3920
Sell: 1.3611 Take profit: 1.3562
Sell: 1.3560 Take profit: 1.3471
The key levels for the dollar/franc pair are 0.8815, 0.8790, 0.8774, 0.8747, 0.8732, 0.8707 and 0.8669. Following the downward trend from December 28, we expect the downward movement to continue after the price passes the noise range of 0.8747 - 0.8732. In this case, the target is 0.8707. Price consolidation is near this level. The next potential target for the decline is 0.8669. Upon reaching which, an upward pullback can be expected.
On another note, short-term growth is possible in the range of 0.8774 - 0.8790. If the last value breaks down, a deep correction will occur. The potential target is 0.8815, which is the key support level for the decline.
The main trend is the downward trend from December 28
Trading recommendations:
Buy: 0.8775 Take profit: 0.8789
Buy: 0.8791 Take profit: 0.8815
Sell: 0.8732 Take profit: 0.8708
Sell: 0.8705 Take profit: 0.8672
The key levels for the dollar/yen are 103.45, 103.22, 103.05, 102.76, 102.62, 102.24, 102.00 and 101.66. The downward trend from December 28 is expected to continue after the price passes the noise range 102.76 - 102.62, with a target of 102.24. In this case, there is a short-term decline and consolidation in the range of 102.24 - 102.00. The potential target for the decline is the level of 101.66. After reaching which, price consolidation, as well as an upward pullback can be expected.
Short-term growth is expected in the range of 103.05 - 103.22. If the last value breaks down, a deep correction will occur, with the target of 103.45. This is the key support level for the downward trend from December 28.
The main trend is the downward trend from December 28
Trading recommendations:
Buy: 103.05 Take profit: 103.21
Buy: 103.23 Take profit: 103.44
Sell: 102.61 Take profit: 102.25
Sell: 102.22 Take profit: 102.02
The key levels for the USD/CAD pair are 1.2800, 1.2725, 1.2692, 1.2644, 1.2600, 1.2548, 1.2508 and 1.2458. Following the formation of the downward trend from January 4, we expect the downward movement to continue after the breakdown of 1.2644, with the target of 1.2600. There is consolidation near this level. If the target breaks down, it will lead to a strong decline towards the target of 1.2548. Meanwhile, there is a short-term decline and consolidation in the range of 1.2548 - 1.2508. The potential downward target is the level 1.2458. Upon reaching which, an upward pullback is possible.
A short-term growth, on the contrary, is expected in the range of 1.2692 - 1.2725. If the last value breaks down, it will favor the development of an upward trend. In this case, the potential target is 1.2800.
The main trend is the formation of a downward trend from January 4
Trading recommendations:
Buy: 1.2692 Take profit: 1.2725
Buy: 1.2728 Take profit: 1.2800
Sell: 1.2644 Take profit: 1.2602
Sell: 1.2598 Take profit: 1.2548
The key levels for the AUD/USD pair are 0.7696, 0.7921, 0.7884, 0.7832, 0.7770, 0.7736, 0.7697 and 0.7642. The next upward targets are determined from the local trend on January 4. So, we expect the upward movement to continue after the breakdown of 0.7832, with the target of 0.7884. We consider a short-term upward movement, as well as consolidation in the range of 0.7884 - 0.7921. Here, the potential upward target is 0.7969. After which, a downward pullback can be expected.
In turn, short-term decline is expected in the range of 0.7770 - 0.7736. If the last value breaks down, a deep correction will occur. The target is 0.7697, which is the key support level for growth from January 4.
The main trend is the local upward trend of January 4
Trading recommendations:
Buy: 0.7832 Take profit: 0.7884
Buy: 0.7886 Take profit: 0.7920
Sell: 0.7770 Take profit: 0.7737
Sell: 0.7734 Take profit: 0.7698
The key levels for the euro/yen pair are 127.20, 126.99, 126.69, 126.11, 125.83, 125.62, 125.34 and 125.15. Following the development of the downward trend from December 29, we expect the decline to continue after the breakdown of 126.11, with the target of 125.83. At the same time, there is a short-term downward movement and consolidation in the range of 125.83 - 125.62. If the last value breaks down, it will lead to a strong decline towards the target of 125.34. This will be followed by the next potential downward target, which is the level of 125.15. Upon reaching which, price consolidation and upward pullback are possible.
On the other hand, short-term growth and consolidation are expected in the range of 126.69 - 126.99. The breakdown of the last value will lead to the formation of initial conditions for an upward trend. Here, the first target is 127.20.
The main trend is the downward trend from December 29, correction stage
Trading recommendations:
Buy: 126.71 Take profit: 126.98
Buy: 127.00 Take profit: 127.20
Sell: 126.10 Take profit: 125.84
Sell: 125.61 Take profit: 125.35
The key levels for the pound/yen pair are 143.04, 142.10, 141.41, 140.69, 139.63 and 138.88. Following the development of the upward trend of December 21, we expect the upward movement to continue after the breakdown of 140.69. In this case, the first target is 141.41. At the same time, short-term upward movement and consolidation are in the range of 141.41 - 142.10. The next potential target for growth is the level 143.04. Upon reaching which, price consolidation and downward pullback can be expected.
Short-term decline, in turn, is expected in the range of 139.63 - 138.88, wherein a key upward reversal is expected. If the last value breaks down, it will be conducive to the development of a downward trend. In this case, the targets will be determined from the initial conditions on December 24.
The main trend is the upward trend of December 21, correction stage
Trading recommendations:
Buy: 140.70 Take profit: 141.40
Buy: 141.43 Take profit: 142.10
Sell: 139.61 Take profit: 138.90
